FLI - looks promising with good news

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Western Union Holiday


FLI = 1.88 (3.3%)

FLI formed a shaven white candle to move above the 130MA and seems to be closing the previous gap down. Volume is a concern. We hope to see volume pick up this coming trading week. We also hope that FLI will test the recent new high at 1.94

32MA recently crossed above 65MA to signal bullishness.

Resistance: 1.88-1.9 (previous gap down)
Support: 130MA, 1.74

Good luck to all FLI traders :)

NEWS: Filinvest seen to bid for Manila power plant (from Citiseconline and Technistock)

The Filinvest group of the Gotianun family has signified keen interest to bid for the decommissioned Manila thermal power plant in Paco. Industry sources said Filinvest was among the real estate developers that attended the pre-bid conference yesterday by the Power Sector Assets and Liabilities Management Corp. (PSALM). Sources privy to the pre-bid session said PSALM was overwhelmed by the results as nine out of 10 that have signified interest to bid for the retired plant attended the pre-bidding process. "This goes to show that all the National Power Corp. (Napocor) assets being disposed by PSALM, including decommissioned power plants, have been getting similar positive response from prospective investors," a source said. Filinvest was also among those that expressed keen interest to bid for a controlling stake in top geothermal power producer PNOC-Energy Development Corp., another government asset that would be sold anytime soon. Aside from Filinvest, three more property developers are also interested in the Manila thermal power plant. Their enthusiasm heightened when PSALM decided to include the land in the sale of the asset. PSALM will auction the plant on Dec. 19. It was noted that the real estate firms have the option to develop the land into commercial projects such as shopping malls or complexes. But PSALM stressed that the real estate developers should be able to partner with companies with expertise on disposing toxic materials normally present in decommissioned facilities. "One requirement we want the bidders to have is their capability on toxic material disposal," PSALM vice president for asset management and electricity trading Froilan Tampinco said earlier. Another requirement, he said, is that the winning group should be majority owned by Filipinos. Under the law, no foreigners can own real estate properties in the Philippines. As of Oct. 12, he said four groups have already expressed interest to join the bidding, two of which are foreign companies. Located at Isla de Provisor in Paco, Manila, the retired plant will be offered to interested parties after PSALM received positive feedback from investors on the government's privatization program. The two-hectare land is located in a prime area, being near SM Manila and other commercial centers. The size of the land is also ideal for industrial purposes. Since the plant is already retired, PSALM expects bidders engaged in the construction or steel manufacturing business, or those eyeing the scrap value of the plant's equipment, component auxiliaries and accessories, to participate in the bidding for the decommissioned facility.


Fujitsu Computer Systems Corporation
Magazines.com, Inc.

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